PAAST Company purchased the assets of Sueiro Company at an a…
PAAST Company purchased the assets of Sueiro Company at an auction for $5,600,000. An independent appraisal of the fair value of the assets is listed below: Land $1,900,000 Building 2,800,000 Equipment 2,100,000 Trucks 3,400,000 Assuming that specific identification costs are impracticable and that PAAST allocates the purchase price on the basis of the relative fair values, what amount would be allocated to the Building?
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